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EURO-YEN TECHS: Failed Break Above 125?
EURJPY touched Fed react highs of 125.47, but has since retraced back under 125
suggesting a failed break. Bears need a move back below 124, returning the focus
to the Jan 15 low at 123.40. Below here would open the 38.2% retracement level &
Jan 4 low at 122.65/59. Bulls short-term focus remains on the Jan 30 high, a
break above here brings the YTD Jan 1 high at 126.14 into view, ahead of a
return to the 50-dma at 126.30.